# Zenverge

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zenverge

- Industry: Semiconductors
- Headquarters: Cupertino, US
- Website: www.zenverge.com
- Total disclosed funding: $62M
- Latest round: Series D (Dec 20, 2013)
- Investors on record: 9

## About

Zenverge, Inc. specializes in advanced home automation solutions designed to enhance modern living through innovative technology, including smart devices for cleaning, temperature control, and security systems.Founded in 2005 in Cupertino, US, Zenverge, Inc. operates within the home automation sector, focusing on smart technology integration. The company was acquired by Freescale Semiconductor in December 2014, although financial details were not disclosed. The founders, Amir Mobini and Tony Masterson, have played crucial roles in the company's direction, with Amir Mobini serving as the current CEO. As of now, Zenverge has completed a total of 7 deals, raising a total of USD 11.19 mn, most recently in a Series D round that concluded on December 2, 2014, with investors such as CID Group, DCM, Norwest Venture Partners, Verizon Investment Management Corporation, and Woodside Fund.Zenverge specializes in a comprehensive suite of home automation solutions designed to enhance the functionality and convenience of modern living spaces. Their core offerings include robotic cleaning devices, intelligent temperature control systems, immersive audio systems, smart lighting solutions, and advanced home security technologies. These products address various consumer needs, such as maintaining cleanliness, optimizing energy usage, providing entertainment, improving home safety, and creating customizable lighting environments. The end users primarily consist of homeowners and renters in urban and suburban areas across North America and Europe, who seek to integrate smart technology into their daily lives for improved efficiency and comfort. By focusing on innovative technologies and user-friendly interfaces, Zenverge ensures that its products cater to a diverse clientele looking for reliable and effective home automation solutions.Zenverge generates revenue through a combination of direct-to-consumer sales and partnerships with retailers and wholesalers. The company's transaction structure includes one-time purchases for its flagship products, such as robotic vacuums and smart thermostats, as well as potential subscription models for ongoing support and updates for software-driven devices. For instance, customers may acquire a smart thermostat outright, while also opting into a subscription plan for advanced features and remote monitoring capabilities. The pricing plans for these products are structured to accommodate a wide range of budgets, making them accessible to various customer segments. Zenverge’s revenue streams are bolstered by its extensive product lineup, which caters to both individual consumers and larger scale deployment in multi-unit dwellings.Zenverge is focused on expanding its product line to include new smart home devices, with specific plans for launching additional robotic cleaning solutions and enhanced smart security systems by mid-2015. The company aims to enter new markets in Asia and Australia, targeting these regions by 2016. The recent funding from the Series D round will support these initiatives, allowing Zenverge to enhance its research and development efforts and pursue strategic partnerships for market entry. The overall strategy is to leverage acquired funds to accelerate innovation and broaden its customer base internationally.

## Funding rounds

- Series D, Dec 20, 2013, $11M — DCM, Verizon Investment Management Corporation, Norwest Venture Partners, Woodside Fund, CID Group
- Series D, Sep 14, 2011, $21M — Battery Ventures, DCM, Norwest Venture Partners, Woodside Fund, CID Group, Motorola Mobility, Entropic Communications
- Series C, Apr 22, 2010, $30M — Battery Ventures, DCM, Norwest Venture Partners, Motorola Solutions Venture Capital

## Investors

- Battery Ventures (https://capitalatlas.ai/funds/battery-ventures) — Series C, Series D
- DCM (https://capitalatlas.ai/funds/dcm) — Series C, Series D
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series C, Series D
- Motorola Solutions Venture Capital (https://capitalatlas.ai/funds/motorola-solutions-venture-capital) — Series C
- Woodside Fund (https://capitalatlas.ai/funds/woodside-fund) — Series D
- CID Group (https://capitalatlas.ai/funds/cid-group) — Series D
- Motorola Mobility — Series D
- Entropic Communications — Series D
- Verizon Investment Management Corporation — Series D